Securities Markets in the 1980s: New Regime, 1979-84 v.1

Securities Markets in the 1980s: New Regime, 1979-84 v.1

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Description

This is the first in a projected two volume study of securities markets during the 1980s. It analyzes stock and bond markets, the merger market, fiscal and monetary policy, and the economy during what the author calls "an epochal period in U.S. financial history". It is intended for academics in business and finance, professionals, and government policy makers.show more

Product details

  • Hardback | 431 pages
  • 162.56 x 241.3 x 40.64mm | 725.74g
  • Oxford University Press Inc
  • New York, United States
  • English
  • 145 line drawings, bibliography
  • 0195106326
  • 9780195106329

About Barrie A. Wigmore

About the Author: Barrie Wigmore is a Limited Partner of Goldman Sachs who was active in some of the largest financings and mergers of the 1980s. He has previously written on the stock and junk bond markets of the 1980s and financial markets in the Great Depression.show more

Review quote

"Barrie Wigmore's book will be the definitive financial history of a tumultuous financial decade. The interactions between the financial and the real economy became ever more important, and this book provides a rare degree of insight into how they work."--Lawrence Summers, former Nathaniel Ropes Professor of Political Economy at Harvard University"From his vantage point at Goldman Sachs, Barrie Wigmore offers the reader a panoramic view of the momentous changes that transformed Wall Street in the early 1980s. His lively chronicle of the emergence of a new macroeconomic policy regime provides an essential backdrop to the stock market's resurgence. The new environment of low inflation and high growth, achieved by tight monetary policy and consequently high interest rates, created big losers and winners in the market. Wigmore sorts through the thicket of factors that caused the stocks of some industries to boom and others to falter. His explorations expose the complex links between the new derivatives, mortgage-backed securities, junk bonds, the merger wave, and the S&L crisis. Thus, this work is an invaluable guide to the researcher, analyst, or historian of the securities markets."--Eugene N. White, Chairman of the Department of Economics, Rutgers University"This is a very useful book for those seeking to understand the turbulent markets of the US in the 1980s. This period includes the deepest US recession since the Great Depression of the 1930s, the worst peacetime inflation experience this country has ever had, the highest interest rates, and some of the most severe upheavals ever seen in the financial sector. The book maintains a high scholarly level throughout, while at the same time showing a depth of understanding that only an active professional participant in the markets can give."--Robert J. Shiller, Stanley B. Resor Professor of Economics, Cowles Foundation for Research in Economics, Yale Universityshow more